Carrier Global Co. (NYSE:CARR) Shares Bought by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC grew its holdings in Carrier Global Co. (NYSE:CARR) by 39.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,324 shares of the company’s stock after buying an additional 2,633 shares during the period. Aptus Capital Advisors LLC’s holdings in Carrier Global were worth $750,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Olistico Wealth LLC acquired a new position in Carrier Global in the second quarter valued at about $25,000. Meeder Asset Management Inc. raised its stake in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $32,000. Hantz Financial Services Inc. purchased a new position in shares of Carrier Global during the 2nd quarter worth approximately $35,000. Finally, McClarren Financial Advisors Inc. increased its holdings in Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CARR. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday. Bank of America raised their target price on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Barclays lowered their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Mizuho increased their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.31.

Carrier Global Stock Performance

NYSE:CARR opened at $74.97 on Friday. Carrier Global Co. has a 12 month low of $51.20 and a 12 month high of $83.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market capitalization of $67.27 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.71 and a beta of 1.34. The business’s fifty day moving average price is $77.51 and its 200 day moving average price is $69.66.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 19.24%.

Carrier Global declared that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.